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| the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerngs that have value for customers, clients, partnets, an society at large |
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| people giving up somethng in order to recieve something else they would rather have |
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| a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace |
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| the belef that people wll buy more goods and services if aggressive sale techniques are sed and that hgh sales results in high profits |
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| the idea that the social and economic justification for an organizations existence i the satisfaction of customer wants and needs while meeting organizational objectives |
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sale does not depend on an aggressive sales force but rather on a customers decision to purchase
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| societal marketing orientation |
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| the idea that an organization exists no ony to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals and societys long-term best interests |
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| the relationship between benefits and the sacrifce necessary to obtain those benefits |
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| customer evaluation of a good or servce n terms of whether it has met their needs and expectations |
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| a stragtegy that focusing on keeping and improving relationships with current customers |
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| delegation of authority to solve customers problems quickly- usually by the first person the customer notifies regardng a problem |
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| collaborative efforts of people to accomplish common objective |
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| customer relationship management |
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| a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly dfined and precise customer groups |
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| a subgroup of single business or collection of related businesses within the larger organization |
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| a marketing strategy that tries to increase market share among eisting customers |
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| a marketing strategy that entails attractings new customers to existng products |
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| marketing strategy that entais the creation of new products for present markets |
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| strategy of increasing sales by introducing new products into new markets |
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| a tool for allocating resurces among products or strategic business units on the basis of relative market share and market growth rate |
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| in the portfolio matrix, a business unit that is a fast-growing market leader |
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| in the portfolio matrix, a business unit that generates more cash than it needs to maintain its market share |
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| problem child (question mark) |
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| in the portfolio matrix, a business unit that shows rapid growth but poor profit margins |
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| in the portfolio matrix, a business unit that has low growth potential and a small market share |
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| the process of anticipating future events and determining strategies to achieve organizational objectives in the future |
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| designing activities relating to marketing objectives and the changing mrketing environment |
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| a written document that acts as a guidebook of marketing activities for the marketing manager |
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| a statement of the firms business based on a careful analysis of benefits sought by present and potential customers and a analysis of existing and anticipated environental conditions |
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| defining a business in terms of goods and services rather than in terms of the benefits cstomers seek |
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| identifying internal (s)trength and (w)eaknesses and also examining external (o)pportunites and (T)hreats |
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| collection and interpeting of information about forces, events, an relationships in the external environment that may affects the furniture of organization or the implementation of the marketing plan |
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| a set of unique features of a company and its products that are precieved by the target market as significant and superior to those of the competition |
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| cost competitive advantage |
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| being the low-cost competitor in an idustry while maintaining satisfactory profit margins |
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| curves that show costs declinging at a predictable rate as experience with a product increases |
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| product/ service differentiation competitive advantage |
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| the provision of something that is unique and valuable to buyers beyond smply offering a lower price than that of the competition |
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| niche competitive advantage |
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| the advantage acheved when afirm seeks to target and effectively serve a small segment of the market |
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| ustainable competitive advantage |
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| an advantage that cannot be copied by competition |
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| a statement of what is to be accomplished through marketing activities |
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| the activities of selecting and describing one or more target markets and developing and maintaining |
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| market oportunity analysis |
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| the description and estimation of the size and sales potential of market segments that are interest to the firm and assessment of key of competitiors n these market segments |
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| a unique blend of product, place (distribution). promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market |
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| the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplshes the plans objectives |
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| gauging the extent to which the marketing objectives have been achieved durin the specified time period |
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| provides the mechanisms for evaluating marketing results in light of plans objectives and for correcting actions that do not to help organization reach those objectives within budget guidelines |
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| a thorough, systematic, periodic evaluation of the ojectives, strateges, structure, and performance of the marketing organization |
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| the moral principle or values that generally govern the conduct of an individual or a group |
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| ethical theory that states that people should adhere to their obligations and duties whn analyzing an ethical delimma |
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| utilitarian ethical theory |
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| ethcal theory that is founded on the abilty to predict the consequences of action |
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| ethical theory that compares a current ethical dilemma with examples of similar ethical dilemmas and their outcomes |
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| an ethical theory of time-and-place ethics; ths is, the belief that ethical truth deend on the individuals and groups holding them |
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| character trait valued as being good |
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| the rules people develop as a result of cultural values and norms |
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| a guideline to help marketing managers and other employees ake better decisions |
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| foreign corrupt practices act (FCPA) |
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| a law that prohibits U.S. corportations from making illegal payments to public officials of foreign governments to obtain business rights or to enhance their business dealings in those countries |
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| corporat social responsibility (CSR) |
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| a businesses concern for societys welfare |
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| ethical theory stating that social responisbility is paying attention to the interest of every aspect of a firms operation |
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| pyramid of corporate social responsibilty |
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| a model tht suggests corporate social rsponsbility is composed of economic legal, ethical and philanthropic responsibilities and that the firms economcal performance supports the entire structure |
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| the developement and marketng of products desgned to minimize negative effects on the physical environment or to improve the environment |
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| the idea that socailly responsble compmanies wil outperform their peers by focusing on the worlds social problems and viewing them as opportunities to build profits and help the world at the same time |
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| the cooperative marketng efforts between a for-profit firm and a nonprofit organization |
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| a group of poeople or organizations for which an organization deisgns, implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges |
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| a group of poeople or organizations for which an organization deisgns, implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges |
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| when a company implements strategies that attempt to shape the external environment within which it operates |
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| the practice of choosing goods and services that meet ones diverse needs and interests rather than conforming to a single, traditional lifestyle |
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| the study of peoples vital statistics, such as age, race and ethncity, and location |
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| a comparison of income versus the relative cost of a standard set of goods and services in different geographic areas |
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| a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year |
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| a period of economic activity characterized by negative growth, which reduces demand for goods and services |
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| pure research that aims to confirm an existing theory or to learn more about a concept or phenomenon |
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| research that attempts to develop new or improved products |
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| consumer product safety commision |
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| a federal agency established to protect the health and safety of consumers in and around their homes |
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| food and drug administration |
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| a federal agency charged with enforcing regulations against selling and distributing adulterated, misbranded, or hazardous food and drug products |
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| federal trade comision (FTC) |
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| a federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce |
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| marketing that targets markets throughout the world |
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| recognizing and reacting to international marketing opportunities , usng effective global marketing strategies, and being aware of threats from foreign competitors in all markets |
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| the total market value of all final goods and services produced in a country for a given time period |
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| multinational corporation |
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| a company that is heavily engaged is heavily engaged in international trade, beyond exporting and importing |
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| using more capital than labor in the production process |
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| global marketing standardization |
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| production of uniform products that can be sold the same way all over the world |
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| when multinational firms enable individual subsidiaries to compete independantly in domestic markets |
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| the largest latin american trade agreement; includes argentina, bolivia, brazil, chile, columbia, ecuador, paraguay, peru, urugary, and venezuela |
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| world trade organization (WTO) |
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| a trade organization that rplaced the old general agreement on tarffs an trade |
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| general agreement on tariffs and trade |
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| a trade agrement that contained loopholes enabling countries to avoid trade barrier reduction agreements |
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| North amaercan free trade agreement |
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| canada, us and mexico that created the worlds largest free trade zone |
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| a free trade zone encompassing twenty-eight european countries |
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| an international bank that offers low interest laons, advice, and information to developng nations |
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| international monetary fund |
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| an international organization that acts as a lender of last resort, proviing loans to troubled nations, and also works to promote trade through financial cooperation |
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| forum for international economic developement that promotes discussion betwen industrial and emerging-maret countries on key issues related to global economic stability |
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| selling domestically produced products to buyers in other countries |
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| an intermediary in the global market that assumes all ownership risks and sells globally for its own account |
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| an intermediary who plays the traditional brokers role by bringing buyer and seller together |
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| an intermidiary who acts like a manufacturers agent for the exporter; the export agent lives in the foriegn market |
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| the legal process whereby a licensor allows another firm to use its manufacturing process, trademarks, patents, trade, secrets, or other proprietary knowledge |
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| private label manufacturing by foreign company |
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| when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity |
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| active ownership of a foreign company or of overseas manufactring or marketing facilities |
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| the price of one country's currency in terms of another countrys curency |
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| a system in which prices of different currencies move up and down based on the demand for te supply of each currency |
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| the sale of exported product at a price lower than that charged for the same or a like product in "home" market of the exporter |
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| a form of trade in which all or part of the payments for goods or services is in the form of other goods or services |
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| a publicly accessible web page that functons as an interactive journal, where readers can post coments on the authers entries |
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